Andy Close
Gas prices are three cents higher in Western Pennsylvania this week at $3.743 per gallon, according to AAA East Central’s Gas Price Report, with the average price of gas in Warren at $3.793 per gallon.
This week’s average prices: Western Pennsylvania Average: $3.743
Average price during the week of Jan. 3, 2023: $3.712
Average price during the week of January 10, 2022: $3.516
The average price of unleaded self-serve gasoline in various areas:
$3.793 Altoona
$3.795 Beaver
$3.762 Bradford
$3.677 Brookville
$3.741 Butler
$3.733 Clarion
$3.745 DuBois
$3.737 Erie
$3.751 Greensburg
$3.756 Indiana
$3.704 Jeannette
$3.781 Kittanning
$3.755 Latrobe
$3.740 Meadville
$3.799 Mercer
$3.624 New Castle
$3.780 New Kensington
$3.761 Oil City
$3.728 Pittsburgh
$3.756 Sharon
$3.733 Uniontown
$3.793 Warren
$3.640 Washington
Trend analysis
According to data from the Energy Information Administration, gas demand dropped from 9.33 million barrels per day to 7.51 million barrels per day last week. Meanwhile, total domestic gasoline stocks fell by 300,000 barrels to 222.7 million barrels. Lower gasoline demand has contributed to limiting increases in pump prices.
At the close of Friday’s formal trading session, West Texas Intermediate increased by 10 cents to settle at $73.77. A lower dollar helped to push crude prices higher at the end of the week. However, crude prices declined earlier in the week amid ongoing global economic concerns due to rising COVID-19 cases in China.
